PPP leader says Kim Yong-beom's resignation not enough: 'He was driven out by the people'

People Power Party leader Jang Dong-hyeok on Tuesday sharply criticized the resignation of presidential policy chief Kim Yong-beom, saying he was "driven out by the people" and that the matter "cannot be closed with a resignation."

In a Facebook post that day, Jang said single-stock leveraged exchange-traded funds were "Kim Yong-beom's creation," adding that the products had turned the stock market into "a gambling den," drained ordinary investors' accounts and enriched only brokerage firms.

He then noted that Kim's son works at a securities firm, and that the son of Financial Services Commission Chairman Lee Chan-jin is employed at the same firm. "Is this not a clear target for investigation?" Jang added.

Jang also questioned whether the Board of Audit and Inspection would conduct a meaningful review. "The board said it would audit, but there has been no word since," he said. "Can an audit board that is busy reading the administration's mood — even overturning past audit findings — be trusted to do its job properly?"

Jang said President Lee Jae Myung must have been behind the policies Kim championed. "There is no way Kim Yong-beom did this alone without President Lee Jae Myung's knowledge," he said. "Kim is the tail — President Lee Jae Myung is the body. Cutting off the tail does not make the body disappear."

Jang also argued that dismantling the prosecution had left no agency capable of conducting a proper investigation. "It seems that is exactly why they got rid of prosecutors," he said. "Public losses amount to 54 trillion won ($39.3 billion). A special prosecutor is the least that is needed."